<In the Summer. Late June, I believe.> http://www.irs.gov/newsroom/article/0,,id=177937,00.html IRS says starting in May, according to this link
The IRS referred to 2007 tax returns for determining eligibility and the amount of 2008 economic stimulus payments. Eligible individuals were given an extended deadline of October 15, 2008, in which to file their 2007 returns in order to receive 2008 economic stimulus payments. The Recovery Rebate Credit for 2008 tax returns is for people who didn't receive the full economic stimulus payment ($600.00 per taxpayer, $1,200.00 Married Filing Jointly) but who might be eligible now for some or all of the unpaid portion. But if you didn't file a 2007 tax return by October 15, 2008, then you're not eligible for the Recovery Rebate Credit for 2008 tax returns. Recovery Rebate Credits won't be mailed as separate checks, as the 2008 economic stimulus payments were. They'll be added into taxpayers' refunds.
No. But if you work in 2008, you will get a second chance to qualify next year.
Call the IRS at 1-800-829-1040. But wait until next week to do it.
Nice question...but you've delayed too long to be able to get any rebate anyway, so why bother anyone now, who cares?
The tax rebates are based on a reduction of your taxes in 2008. Basically, in 2008, the tax has been reduced by 10% on the first $3000 of your income (per taxpayer), and there is an additional tax credit for children. This amounts to $300 per individual, $600 per couple, and $300 per dependent child. This is money advanced from your taxes this year, but you are getting the money back now rather than next year. HOWEVER, it will not affect your tax refund next year because the refund is based on an actual reduction in your taxes, rather than just being an advance on your normal refund next year.
I purchased a new home in June of 2008.
Yes. All of America does.
Yes. All of America does.
Yes. All of America does.
Yes. All of America does.
The 2008 Tax Rebates will be sent out to everyone who files a 2007 Federal Tax Return.
The IRS referred to 2007 tax returns for determining eligibility and the amount of 2008 economic stimulus payments. Eligible individuals were given an extended deadline of October 15, 2008, in which to file their 2007 returns in order to receive 2008 economic stimulus payments. The Recovery Rebate Credit for 2008 tax returns is for people who didn't receive the full economic stimulus payment ($600.00 per taxpayer, $1,200.00 Married Filing Jointly) but who might be eligible now for some or all of the unpaid portion. But if you didn't file a 2007 tax return by October 15, 2008, then you're not eligible for the Recovery Rebate Credit for 2008 tax returns. Recovery Rebate Credits won't be mailed as separate checks, as the 2008 economic stimulus payments were. They'll be added into taxpayers' refunds.
Absolutely!
over 70 billion checks were written in 2008
NO. ACTUALLY YES.. THE REBATE IS BASED ON A ONE-TIME TAX CUT. IT IS ONLY AN ADVANCE ON YOUR 2008 RETURNS. No. The CNN article that made this claim was edited, and no longer mentions the "advance, not rebate" position.
Not completely certain, but, some government entities are handed out that way - such as food stamps. I believe that the last rebate checks were sent out in that manner also.
The government will start sending money on May 2.